Can I Get Approved for A Kentucky Mortgage Loan Using Alimony As Income?
Alimony Income Guidelines Below For Different Mortgage Loan Programs Conventional Loan Final Divorce Decree, Separation Agreement, Court Decree, or any other type of written legal agreement recorded with the courts. Receipt of most recent 6 months of total court ordered amount & scheduled timely payments as per the terms of the court order/written legal agreement. Court order/Written legal Agreement stipulates that alimony will be paid for at least 3 years after the date of the Note/Closing. FHA Allows Some Flexibility If the borrower has a: Final divorce decree, Legal separation agreement, or Court order Receipt of recent 3 months of total court ordered amount & scheduled timely payments as per the terms of the court order. 3 Legal documents noted above stipulate that alimony will be paid at least 3 years after the date of the date of the Note/Closing. If the borrower has a: V...